Goodyear Tire & Rubber (NASDAQ:GT) Price Target Lowered to $9.00 at Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank cut its target price for Goodyear from $12.00 to $9.00 while maintaining a "buy" rating, a target that implies about a 35% upside from the prior close.
• Overall analyst sentiment is mixed: the stock's average rating is "Hold" with an average price target of $9.69 (3 Buys, 4 Holds, 2 Sells).
• Shares traded at $6.65 after the company reported quarterly EPS of $0.39, which missed the $0.45 estimate; market cap is ~$1.90B, the P/E is negative, and the 52-week range is $6.14–$12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) had its target price dropped by equities research analysts at Deutsche Bank Aktiengesellschaft from $12.00 to $9.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft's target price suggests a potential upside of 35.44% from the company's previous close.

Other equities analysts also recently issued reports about the company. Citigroup lifted their target price on Goodyear Tire & Rubber from $9.00 to $10.00 and gave the company a "neutral" rating in a research report on Thursday, February 12th. Zacks Research cut Goodyear Tire & Rubber from a "strong-buy" rating to a "hold" rating in a research report on Friday, February 6th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Goodyear Tire & Rubber in a research report on Monday, December 29th. Finally, TD Cowen cut their target price on Goodyear Tire & Rubber from $10.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $9.69.

Goodyear Tire & Rubber Stock Performance

NASDAQ GT traded down $0.09 on Thursday, hitting $6.65. 1,287,406 shares of the company traded hands, compared to its average volume of 7,425,718. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of -1.11, a P/E/G ratio of 0.29 and a beta of 1.18. The company has a current ratio of 1.06, a quick ratio of 0.54 and a debt-to-equity ratio of 1.57. The business's 50 day moving average price is $7.68 and its 200-day moving average price is $8.06. Goodyear Tire & Rubber has a 52-week low of $6.14 and a 52-week high of $12.03.

Goodyear Tire & Rubber (NASDAQ:GT - Get Free Report) last released its earnings results on Monday, February 9th. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.06). The company had revenue of $4.92 billion for the quarter, compared to analysts' expectations of $4.85 billion. Goodyear Tire & Rubber had a negative net margin of 9.41% and a positive return on equity of 3.21%. Goodyear Tire & Rubber's revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 earnings per share. Equities analysts expect that Goodyear Tire & Rubber will post 1.5 earnings per share for the current year.

Institutional Investors Weigh In On Goodyear Tire & Rubber

A number of hedge funds have recently made changes to their positions in GT. AQR Capital Management LLC lifted its position in shares of Goodyear Tire & Rubber by 151.8% in the fourth quarter. AQR Capital Management LLC now owns 9,764,853 shares of the company's stock worth $85,540,000 after buying an additional 5,886,935 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $32,301,000. Wellington Management Group LLP lifted its stake in shares of Goodyear Tire & Rubber by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 26,381,396 shares of the company's stock valued at $197,333,000 after purchasing an additional 2,796,332 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $17,686,000. Finally, Bridgeway Capital Management LLC bought a new stake in shares of Goodyear Tire & Rubber in the 3rd quarter valued at approximately $15,280,000. 84.19% of the stock is currently owned by hedge funds and other institutional investors.

Goodyear Tire & Rubber Company Profile

The Goodyear Tire & Rubber Company is a leading tire manufacturer and rubber products supplier with more than a century of innovation in its portfolio. Founded in 1898 by Frank Seiberling in Akron, Ohio, the company has grown into a global enterprise known for its engineering expertise and quality standards. Over its history, Goodyear has pioneered advances in tire technology, from early pneumatic designs to modern high-performance and fuel-efficient solutions.

Goodyear's core business encompasses the design, production and distribution of tires for a variety of markets, including passenger cars, commercial trucks, off-the-road vehicles, aircraft and specialty applications.

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